Denim jeans are trousers typically made from denim fabric and have a very wide appeal. Consumers are looking for options that fit better with their active lifestyles and are more comfortable, and that takes the advantage of the performance benefits offered by the latest synthetics. A while ago, denim was just used as a basic product, but nowadays it’s a fashion product that changes every season.
Increasing Demand for Denim Jeans to Propel the Market
Rising demand for denim is backed by the dynamic workplace ethics that allow employees to work in casual attire, including jeans and denim jackets. Moreover, the acceptance of denim jeans as business casual attire is one of the primary growth factors of the Denim Jeans market. Organizations such as Google, Facebook, Twitter, and Zappos allow their employees to dress in casual attire, including jeans. Moreover, working women are preferring jeans over work pants due to the right fitting and comfort, which is driving the growth of the market.
Factors That Drive the Growth of the Market
Presence of several international and regional vendors is driving the growth of the market. The premium manufacturing organizations are extensively focusing on product innovation, based on price, quality, variety, and brand. Leading players around the globe are dominating the market due to strong investments in research and development and continuous efforts to launch new products.
Furthermore, collaborating of denim mills with the brands to achieve strategic objectives is another major factor driving the growth of the market. For example, Levi Strauss & Co., a denim manufacturer, collaborated with Off-white, a leader in street-wear fashion trends, create their own Fall/Winter 2016 capsule collection featuring 11 unique silhouettes that blend each brands’ aesthetic. The successful mergers between the organizations are anticipated to be the primary driving factor for the growth of the market. Levi Strauss & Co., which invented the riveted design that served as the blueprint for modern blue jeans, remains the world’s biggest denim company.
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North America to Dominate the Market over the Forecast Period
North America held the largest share of the denim jeans market, contributing more than 30% of the overall revenue in 2016, and is projected to continue dominating the market throughout the forecast period. The sale of denim wear from hypermarkets and supermarkets is expected to witness the fastest growth in the region, mainly because of the growing preferences of consumers towards the availability of multiple choices under the same proof, self-service shopping, and varied prices offered under different brands.
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Despite having immense growth, the global denim market is facing many problems which have restrained the growth of the market, for example, volatile raw material prices and lack of technical expertise, product development, and innovation. Moreover, the introduction of different fibers and polyester blends is hindering the growth of the market, as leading denim manufacturing companies are focusing on adopting the latest fiber technology and innovative fabric in order to offer denim jeans with stretchable attributes. Bound to such factors, the denim jeans market is projected to increase the global demand.
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